Business Moves

A.J. Gallagher, Fox Lawson

Itasca, Ill.-based Arthur J. Gallagher & Co. has acquired Fox Lawson & Associates LLC in St. Paul, Minn. Terms of the transaction were not disclosed.

Founded in 1995, Fox Lawson & Associates is a compensation and human resources consulting firm that specializes in wage and classification studies, performance-based pay programs, executive compensation programs and alternative reward systems for governmental, higher education and private sector clients throughout the United States.

James Fox, Bruce Lawson and their associates will continue to operate in their current locations under the direction of William Ziebell, North Central Regional executive vice president of Gallagher’s employee benefit consulting and brokerage operations.

Auto-Owners

Auto-Owners Insurance Co. says it will build a new corporate complex when it expands its Michigan headquarters, the Associated Press reported.

The $105.3 million project will be near the company’s Delta Township headquarters in Eaton County, just west of Lansing. It would add a three-story, 250,000 square-foot building on 143 acres.

The insurer says the expansion could create 800 jobs over 10 years with an average salary of $43,000. The company is seeking up to $26 million in tax incentives for the project.

Farm Bureau Mutual

Farm Bureau Mutual Insurance Co. in West Des Moines, Iowa, plans to reorganize. The plan is subject to approvals by the Iowa Insurance Commissioner and the company’s policyholders. With the required approvals, Farm Bureau Mutual will form a mutual insurance holding company to be named Farm Bureau Mutual Holding Co. (MHC), and Farm Bureau Mutual will be reorganized as a stock property and casualty insurance company named Farm Bureau Property & Casualty Insurance Co.

Farm Bureau Mutual said it will also organize an intermediate holding company named Farm Bureau Multi-State Services Inc., which will own all Farm Bureau Property & Casualty Insurance Co. All Farm Bureau Multi-State Services Inc. shares will be owned by MHC.

While it has no definite plans to sell stock to outside investors, the company said it may pursue such a sale in the future as a part of its business plan.

The terms of existing policies will not be affected by the reorganization, and related membership interests and rights under policyholders’ contract of insurance will remain unchanged, according to the company.

Farm Bureau Mutual’s policyholders meet Oct. 30 to consider reorganization. Farm Bureau Mutual Insurance Co. was established in 1939 and has been rated “A” (Excellent) by A.M. Best for more than 65 years.

Markel, Agri-Risk Services

Markel Insurance Company, a subsidiary of Markel Corporation acquired the assets, including property and casualty insurance renewal rights, of Agri-Risk Services Inc. of Overland Park, Kan., a retail agency specializing in equine risks.

The staff of Agri-Risk will be joining Markel and will become part of Markel Specialty’s Agriculture Division. The Agri-Risk team will continue to be led by Dr. Lance Allen D.V.M., CIC and Barbara Kirby, both long term respected leaders in the equine insurance marketplace.

The acquisition of the business of Agri-Risk Services and its experienced staff, combined with Markel Specialty’s Agriculture Team, builds on both companies’ strong existing relationships in the equine community and the continued desire to expand the Markel brand in the equine insurance market, Markel’s announcement said.

Ironshore Inc.

Ironshore Inc. is expanding its distribution network by establishing regional offices throughout the United States. Steven England has been appointed executive vice president of Ironshore Insurance Services, responsible for overseeing Ironshore’s U.S. Field Operations.

Newly named regional directors are: David Rogers, Midwest (Chicago); Bob Newmarker, Northeast (Boston); Kevin Fee, Mid-Atlantic (Philadelphia); Ron Gleason, South Central (Houston); Wade Pitman, Southwest (Los Angeles); Michael Gill, Gulf Coast (New Orleans).

England, who joined Ironshore in December 2008, will continue to manage the Wholesale Property and Casualty office based in St. Louis, Mo. The St. Louis Property and Casualty operation will continue to market to the wholesale distribution channel under the new name Ironshore Risk Agency.

Ironshore provides specialty commercial property and casualty coverages for risks located throughout the world.

Topics USA